Nifty futures rollover jumps to 79%, Bank Nifty 80% – BusinessLine

Nifty futures has witnessed a strong rollover of 80 per cent, which is at least a decade high. Last month, Nifty futures had saw a rollover of 68 per cent while the three-month average stood at 67 per cent. The Bank Nifty futures witnessed a rollover of 80 per cent, which is almost equal to last month as well as three-month average.

Deepak Gupta, VP- Derivative Sales, Emkay Global Financial Services, said: “The net long futures position by clients (retail investors) increased further this month in spite of the jitteriness arising because of FED’s statements on inflation and likely timeline for rate hikes. The rolls started with roll spreads being very high (upwards of 60 bps) but gradually dipped as we approached expiry.”

However, the sentiment remains bullish as the clients have not reduced their long positions, he added. According to analysts, the strong rollover of positions to the July series were largely on the long side. Option data suggests a trading range between 15500 and 16,000 for Nifty, analysts said.

Volatility index tumbles

India VIX, the fear gauge, also fell sharply during the series. From 19.91 points the index slipped to 15.10. This indicates that the Nifty is expected to move in a range for some more time.

AMong the stocks, Reliance, Hindustan Unilever, Cipla, Maruti and HDFC saw spurt in open positions on the last day of the expiry.